Seven in 10 large American cities saw home values decline between 2025 and 2026, with the typical home value falling by 1.04%, according to a recent study from SmartAsset.
But homeowners and prospective buyers faced starkly different environments, depending on the market. Typical home values plummeted by nearly double digits in the city with the largest decline and increased by 5% in the city with the biggest increase.
SmartAsset's study ranked 100 of the largest U.S. cities based on the one-year change in the typical local home value. It also reported changes over the past five years and from the pre-pandemic year 2019.
Researchers gathered data for February 2026, 2025 and 2021 from Zillow's Home Value Index for single-family homes, condos and co-ops.
See the accompanying gallery for the 12 U.S. cities with the biggest declines in typical home value.
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